The benchmark of Tehran Stock Exchange surged more than 2.5% on Sunday to extend a winning streak into a fourth day.
TSE’s main index, TEDPIX, added 15,404.28 points for the day to finish trading session at 623,260.1.
Minerals, base metals and chemical groups were the top-performing shares. Two giant copper and steel companies, Mobarakeh Steel Company and National Iranian Copper Industry Company, alone added 2,000 points to the benchmark.
As seen in the past weeks, the market was dominated by individual traders as institutional investors either took a passive role in the market or largely were sellers.
According to Donyaye Bourse website, the net worth of shares bought by individual and retail investors from institutional traders amounted to 8 trillion rials ($52 million) on Sunday.
Market analysts see the increasing number of new investors in tandem with inflow of fresh liquidity as the primary factor behind the present incessant rallies in the bourse.
The bull market has been fueled also by the government’s recent decision to offer its stakes in assorted companies on stock market.
The announcement has pushed up the price of shares of several large-cap companies, in which the government has stakes, as investors expect higher prices for such shares.
Market Performance
About 7.44 billion shares valued at 64 trillion rials ($407.68 million) changed hands at TSE on Sunday.
Chodan Sazan Company was the biggest winner as its shares went up 15.26% to 18,336 rials per share.
Sepahan Industrial Group Company incurred the biggest loss among all TSE-listed companies and went down 4.05% to 23,786 rials per share.
Iran Mercantile Exchange contributed the most to the benchmark's fall, followed by Tehran Stock Exchange, Pars Switch Company and Salemin Company.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by National Iranian Copper Industries Company, Golgohar Mining and Industrial Company and Tamin Petroleum and Petrochemical Investment Company.
IFX Up 2.45%
Iran Fara Bourse main index, IFX, gained 190.37 points, or 2.45%, to close Sunday trade at 7,961.93.
About 5.19 billion securities valued at 37.62 trillion rials ($239.6 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares and trade value as 480.96 million of its shares worth 1.68 trillion rials ($10.7 million) were traded.
Iran Office Machines Industries Company, Kowsar Insurance Company, Pardis Housing Investment Company and Iran Fara Bourse had the most negative impact on IFX.
Middle East Mines and Mineral Industries Development Holding Company gave the biggest boost to IFX, followed by Saba Tamin Investment Company, Zagros Petrochemical Company and Esfahan Steel Company.
